Neptune Wellness Solutions Inc NEPTF

Consumer Defensive Household & Personal Products

Neptune Wellness Solutions Inc. is a consumer-packaged goods company that is primarily focused on health and wellness products. The Company focuses on developing a portfolio of consumer products that align with the market trends for natural, sustainable, plant-based, and purpose-driven lifestyle brands. Its products are available in more than 29,000 retail locations and include organic food and beverage brands, such as Sprout Organics, Nosh, and Nurturme, as well as nutraceuticals brands like Biodroga and Forest Remedies. Its main brand units are nutraceuticals and organic foods and beverages. The Company sells its nutraceutical products mainly in bulk soft gels or liquids to multiple distributors and customers, who commercialize these products under their private label. The Company, through its Sprout subsidiary, sells its organic foods and beverages products to mass retailers, grocery stores and other retail outlets, as well as online through e-commerce sites and its own Website.

GREY:NEPTF - Post by User

Neptune Wellness Solutions Inc > Globe & Mail

<< Previous

Bullboard Posts

Next >>

Comment by lscfaon Feb 17, 2021 12:25pm

96 Views

Post# 32585287

RE:Globe & Mail

5 year warrants have value so the $2.00 unit = $1.875 Sh + $0.125 qtr wrt.

retiredcf wrote:
09:20 AM EST, 02/17/2021 (MT Newswires) -- Neptune Wellness Solutions, Inc. (NASDAQ: NEPT and TSX: NEPT), a diversified and fully integrated health and wellness company focused on natural, plant-based, sustainable and purpose-driven lifestyle brands, entered Wednesday into definitive agreements with institutional investors for the purchase of 27.5 million common shares.

The company has also agreed to issue to the investors, in a concurrent private placement, unregistered common share purchase warrants to purchase an aggregate of 6,875,000 common shares. Each common share and accompanying quarter of a Warrant are being sold together at a combined offering price of US$2.00, pursuant to a registered direct offering, priced at-the-market under Nasdaq rules, for aggregate gross proceeds of approximately US$55.0 million before deducting fees and other estimated offering expenses. The Warrants will have an exercise price of US$2.25 per share, will be exercisable commencing on the six month anniversary of the date of issuance, and will expire 5.5 years from the date of issuance.

The company expects to use the net proceeds from the Offering for working capital and other general corporate purposes. The Offering is expected to close on or about February 19, 2021, subject to the satisfaction of customary closing conditions and the receipt of regulatory approvals, including the approval of the Toronto Stock Exchange.

A short while before this on Wednesday, NEPT announced the termination of its "at-the-market" equity offering program. According to a related statement, the termination of the ATM Offering is effective as of February 16, 2021 and Neptune will make no further sales under the ATM Offering. As of the date of this announcement, Neptune had sold 9,570,735 of its common shares under the ATM Offering, raising approximately US$18.6 million in gross proceeds.